Selling upscale New York condos to China | CNBC Reports

Chinese investors are the top foreign buyers of U.S. residential property, according to the National Association of Realtors. But how do these purchases happen? CNBC's Uptin Saiidi attends an event in Hong Kong focused on promoting and selling New York property.
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[@detailsmove]

Had no idea about China's limit; 50k is nothing for the rich

[@ernestkj]

50k? even 500k is nothing for them!

[@detailsmove]

Ernest Kwok you feel me

[@oscarxu8533]

Same as rich Americans. Most Rich Americans are low key, so you just can’t imagine how rich they are

[@Quantum789]

These are some the people responsible for sky rocketing the prices of homes while average Americans suffering wage stagnation found it harder and harder to live own and survive... great

[@holycrapchris]

If you consider 20% price declines "sky rocketing"... www.cnbc.com/2018/12/30/nyc-housing-prices-slide-further-may-last-for-months-warburg-realty.html

[@Quantum789]

@Tasters Choice yea so I'm with the majority of America and new Yorkers, guess we're all incompetent lmaoo 🤣

[@AdhityaMohan]

@Tasters Choice actually he is not incompetent ( he might be but let's just assume that he isn't) when people start parking their wealth abroad that takes money that can be used productively in their local economy. This makes the local economy smaller. By investing foreign wealth in a foreign economy in this case new york, this increases the cost of living in New York. But the people's income is not increasing proportionately because they aren't the ones investing in the local economy. So he is right when he says they are the reason Americans are suffering from wage stagnation.

[@lluow]

Daniel Melendez did you actually watch the video? The sales manager said it’s been always foreign buyers dominating New York market. Japanese, Chinese or Venezuelan. These units aren’t even available for the local buyers. This is hardly the buyers’ fault. It’s the vendors and your government who screw you people.

[@1nfamoussoldier359]

You dumbass it's your own ppl selling to foreign buyers

[@heymikey1981]

Move to Houston or Atlanta. Those cities are so ugly and so suburban, the global urban elite would never think of stepping foot in them.

[@shangli8641]

heymikey1981 “global urban elites” are some of the most educated and accomplished groups of people. They live in places like the upper east side, they also live in affluent suburbs. Belmont, MA, Bethesda, MD are all examples. Why wouldn’t you want your kids go to school with children of scholars, lawyers, entrepreneurs. There’s a serious misconception about the so called elites and their presence and how their children are all spoiled brats. This notion about elites being unAmerican is really laughable. For a while, the elites and Scandinavian and German farmers alike thought Irish and Italians were unAmerican and they don’t fit in the country.

[@aviefern]

Houston and Atlanta are actually some of the hottest markets for them. I used to live in Houston and still have family there. Lots of foreign buyers are eating up huge mega mansions in suburbs like Sugar Land and Katy in the Houston metro area.

[@soubhick554]

I love these small informative videos, keep up the good work CNBC !

[@ijulesy]

The housing bubble is being inflated again.... not good.

[@WorldIsWierd]

No it's not a bubble if rich people do it. It was a bubble cause poor people were buying houses they couldn't afford.

[@thisbeA]

Do you even understand what the housing bubble was?

[@richmarcus161]

@@WorldIsWierd no it was because banks were betting against the mortgages they sold.

[@Atem_S.]

Blocking them for buying your top real estate when your own can't is kinda stupid in a way but at the same time, it's to control the prices!! 50K is nothing!!

[@armandoperez-dd7dw]

Vancouver housing affordibility is blown up by Chinese money

[@MyEndson]

they sell properties in NY to people who never been to NY? really?

[@aviefern]

Yeah, it's a very old and common practice. It's the same thing for housing markets in London and Dubai. Lots of people buy even if they've never seen the city. It's just an investment for them like buying a stock.

[@craumm]

Equally Opportunity vs Not listing property in their own city.🤔

[@JusdoinstuF]

This is an interesting side of investing and us real estate. Could you guys do a video on how people are affording million dollar condos? Organizations cover expensive luxury items because it brings attention but no one ever covers how the people can afford them.

[@sagarpatnaikk]

Crazy Rich Asians !!

[@dhobbyd]

1.8m 900sf@nyc vs. 1.8m 300sf@hk.

[@danabram]

Bahaha with the SALT tax cap and current politics real estate in Manhattan has flatlined, even slightly decreased. If you want a good investment buy in Phoenix or Austin or Charlotte which is fast growing.

[@oghuvwublessing705]

JESUS CHRIST IS GOD. Repent for the Kingdom of GOD is coming soon. #JESUSCHRISTISGOD #JESUSCHRISTISLORDOFALL

[@hacker010010101]

3:03 hahah, USD is safe haven currency with increasing Fed rates. I wonder what kind of people trust their money to them??

[@aviefern]

The US dollar is still less volatile than most other major currencies, plus it has widespread circulation and usability. I've used US dollars in almost every country and nearly everyone accepts it without any hesitation.

[@zachfox7771]

please dont just say chinese when you talk about a language:)

[@uptin]

Of course! Thank you for educating me:)

[@zachfox7771]

@@uptin you make great content though man

[@manoloblanco5240]

" VENEZUELANS" incredible !!!

[@ridgemondhigh4891]

The friends of Chavez and Maduro.

[@user-zo8hs4yh2h]

Meh, we're everywhere.

[@jarysoto8245]

Dud no its my home 😠😠😠

[@Worldtimes1]

Can I get a like Uptin!

[@srfin24]

financial district sucks haha they have no idea there tricking them

[@HAPILIPINIM]

bneiketurah.blogspot.com/2019/08/blog-post_13.html

[@rachidmustafa9512]

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